IGI Logo

Market Review:

Indian markets ended with small cuts after a volatile session on Friday. Investors feared that aggressive interest rate hikes enacted by global central banks to rein in surging inflation could possibly lead to a rein in surging inflation could possibly lead to a recession. The barometer index, the S&P BSE Sensex, declined 135.37 points or 0.26% to 51,360.42. The Nifty 50 index fell 67.10 points or 0.44% to 15,293.50.

Nifty Technical Outlook

Nifty is expected to open on a flattish note and likely to witness volatile move during the day. Nifty has shown a major sell off in last few trading sessions.Major important swing support is placed at 14980. On technical grounds, Nifty has an immediate support at 15180. Any move below the same may extend the fall toward 15080- 15000 mark. On the flip side 15400-15510 will act as strong resistance levels. It’s a stock specific market, trade calls with strict stop loss.

Action: Nifty has an immediate support placed at 15180 and on a decisive close below expect a fall to 15080-15000 levels.

Bank Nifty

Bank Nifty has shown a sharp breakdown in yesterday’s session. Now Bank Nifty is likely to test its swing support at 32250 levels. Bank Nifty’s next immediate support is around 32500 levels on the downside and on a decisive close below expect a fall to 32250-32000. There is an immediate resistance at 33050-33300 levels.

Technical Call Updates

To Read Complete Report & Disclaimer Click Here
 

Please refer disclaimer at https://investmentguruindia.com/Disclaimer/nirmal.html

SEBI Registration number is INH000001766

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer